Bynet Communications, a member of the Tel Aviv-based RAD hi-tech group, today announced a $15 million contract in Bulgaria.
The company has a systems integration contract with Bulgaria Telecom, or BTC. The project covers installing and integrating Juniper systems based on IP/MPLS protocol.
Bynet competed for the project against Cisco, Acatel and Ericsson.
TheMarker has also learned that in anticipation of expanding business in Bulgaria, Bynet means to open a branch office there.
BTC is Bulgaria's national phone company, much like Bezeq (TASE: BZEQ ) is in Israel. Two years ago it was sold to American and British investors, who have been upgrading its systems ahead of Bulgaria's accession to the European Union, which is scheduled to happen in 2007.
(Click here for Transparency International article analyzing BTC's privatization).
Preceding the big contract with BTC, Bynet had identified potential in eastern Europe based on ambitions of joining the EU. It carried out smaller projects in Romania and the Czech Republic.
Expanding its operations outside Israel increased Bynet's investments spending by 10%, says its CEO Alon Ben-Zur, but meanwhile in 2005 its revenues increased about 15% to $120 million, compared with $104 million in 2004.
With 350 employees, Bynet is considered to be Israel's biggest communications infrastructures company.
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